Make My Own Probability Game Math Help!?

Hi,

For my business math class, there is a project which I have no clue how is the easiest way to approach it. I will post the credentials below and hopefully someone can pinpoint me in the right direction.
I am not fond of people asking for answers, but this is so stumping I have no way to start without loosing hope.
Requirements:

Only using standard six sided dice and/or a standard deck of playing cards, create a casino game that has all of the following characteristics:
1.The expected value is within one standard deviation of the mean (so you must calculate both the standard deviation and expected value for your game).
2. The expected value is in the favor of the house.
3. When you play it many times (the means you must play it at least 20 times) your values are consistent with Chebyshev's Rule.
You are expected to post instructions for your game so others from the class may play it. Give a report on your calculations and show that your game satisfies the three conditions above

I hope someone can help, It is greatly appreciated!!!!

statnewb said:

Hi,

For my business math class, there is a project which I have no clue how is the easiest way to approach it. I will post the credentials below and hopefully someone can pinpoint me in the right direction.
I am not fond of people asking for answers, but this is so stumping I have no way to start without loosing hope.
Requirements:

Only using standard six sided dice and/or a standard deck of playing cards, create a casino game that has all of the following characteristics:
1.The expected value is within one standard deviation of the mean (so you must calculate both the standard deviation and expected value for your game).
2. The expected value is in the favor of the house.
3. When you play it many times (the means you must play it at least 20 times) your values are consistent with Chebyshev's Rule.
You are expected to post instructions for your game so others from the class may play it. Give a report on your calculations and show that your game satisfies the three conditions above

I hope someone can help, It is greatly appreciated!!!!

Click to expand...

Start with a card-game (or dice) that you know.

Write down:

How is it played? What are the rules - how are winners/losers decided?

What are the mean and standard deviation of this game (that you know how to play)?

Using that as strawman - you can design a new game and its properties.

I will try that Thanks!

Just a quick question though, In this class I have never calculated the mean for say a card game. Suppose I make a game where you need 2 of a same suit to win, how would the mean be calculated? We left off in class doing the 52 C 2 etc but never calculated the mean. Or I could make a dice game where you need to roll an odd number and even number one on each die. But after that point how does one calculate the mean for the game? I can calculate it for a given set of numbers but am confused when a game.
Any advice is greatly appreciated.
Thanks,!

statnewb said:

Just a quick question though, In this class I have never calculated the mean for say a card game. Suppose I make a game where you need 2 of a same suit to win, how would the mean be calculated? We left off in class doing the 52 C 2 etc but never calculated the mean. Or I could make a dice game where you need to roll an odd number and even number one on each die. But after that point

how does one calculate the mean for the game?

I can calculate it for a given set of numbers but am confused when a game.
Any advice is greatly appreciated.
Thanks,!

Click to expand...

Very good question.

If this has not been discussed in the class - did you ask your instructor this question?

Do that first....